Finance and Planning Minister Amir Khasru Mahmud Chowdhury said that the price of fuel oil in the domestic market of Bangladesh has been adjusted mainly due to the instability of the global market; not to meet any conditions of the International Monetary Fund (IMF).
He said, ‘The increase in oil prices has nothing to do with the IMF conditions. The oil prices have been increased before I went to the IMF meeting.’
The Finance Minister said these things while talking to reporters at his office at the Secretariat today.
He clarified the government’s position on the ongoing discussions with various development partners including the World Bank and the IMF and the current economic situation of the country.
Amir Khasru Mahmud Chowdhury said, ‘Oil prices have increased all over the world. Prices have doubled in America, and increased by 25 percent in Sri Lanka. Despite the severe pressure on the national fund, we kept the prices unchanged until the last moment in the interest of the people of the country. But to keep the budget management and other economic programs running, this price adjustment had to be made at a very negligible rate.
Regarding loans and cooperation with the IMF and the World Bank, the minister said that this is an ongoing process. Stating that as an elected government, no conditions will be accepted that are against the interests of the people, he added, “This IMF program was taken during the previous government. Many conditions may not be acceptable to us. We are committed to the people, so we will not take any decision that puts pressure on the people or businessmen.”
Regarding inflation, the minister said that oil prices are only a small part of the overall economic basket. Inflation mainly depends on supply and demand. The government is trying to keep its impact on the people at a tolerable level by ensuring adequate storage and supply of oil.
He also said that development partners agree with the election manifesto of the current government and they are very interested in working with Bangladesh. Especially the government’s ‘Family Card’ or social security program has been widely praised in the international arena. He also said that the heads of the World Bank and ADB will visit Bangladesh soon.
Source : BSSÂ
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